Penthouse 1 at Continuum was owned by Howard and Lillian Steinberg. The penthouse, purchased in 2003 for $7M, has five bedrooms, 7.5 bathrooms, 7,374 interior sf, double-height ceilings in living area, and a roof-top pool.

No word yet on the identity new owner. I can’t believe that I don’t know.

Miami Beach Real Estate: Is It That Bad?

Though the sale price seems shockingly low, this real estate should have NEVER been listed at $25M, I knew it, and the owner knew it, too. I’d guesstimate that at the peak of the market this property could have fetched between $13-$15M. All in all $1342 psf isn’t that bad.

UPDATE: Alex Birkenstock, an New York hedge fund guy, is the proud new owner.